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STTAS EU Trade Weekly

Tuesday, October 28, 2014
Sandler, Travis & Rosenberg Trade Report

Europe

European Union: Commission drafts updated control list on dual-use items

The European Commission has updated the EU list of dual-use items – goods, software and technology normally used for civilian purposes but that might have military applications or contribute to the proliferation of weapons of mass destruction. The new regulation introduces some 400 changes to the list and will enter into force only if there are no objections from the European Parliament or the European Council within two months. (DG Trade)

 

European Union: WTO sets up panel to settle EU-Russia vehicle battle

The World Trade Organization has set up a panel to rule on a raging trade dispute between Brussels and Moscow over anti-dumping duties Russia has imposed on so-called "light commercial vehicles" made in Germany and Italy, both leading global players in the auto sector. (Economic Times)

 

European Union: Negotiations on FTA with Singapore Concluded

Negotiations on a free trade agreement between Singapore and the European Union, the first such agreement between Brussels and an ASEAN country, have concluded. Under the FTA, EU exporters will be granted immediate duty-free access to the Singaporean market for all products. From the EU side, all tariffs will be eliminated under a five-year time frame and will benefit Singaporean exporters of electronics, pharmaceuticals, chemicals, and processed foods. (International Business Times)

 

European Union: Parliament extends Ukraine's duty-free access to EU market

Plans to extend the largely duty-free access to the EU market for Ukraine’s exports until the end of 2015, when an EU-Ukraine FTA is set to take effect, have been approved by the European Parliament. Unilateral trade preferences implemented earlier this year remove 94.7 percent of EU tariffs on industrial goods imports from Ukraine as well as tariffs on over 80 percent of Ukraine’s farm produce exports. (European Parliament)

Russia: Government may abandon idea of ​​lowering threshold for duty-free e-commerce

The Russian government may abandon the idea of ​​lowering the threshold for duty-free e-commerce from one thousand euros to 150. Public opinion and input from government agencies have reportedly opposed the plan. (RU News)

 

Middle East/North Africa

 

Saudi Arabia: Imports jump 19.6 percent to $15 billion in August

Saudi Arabia's imports jumped an annual 19.6 percent in August, ending nine consecutive months of declines, while growth in non-oil exports accelerated to 22.2 percent, data from the Central Department of Statistics and Information show. Non-oil exports account for around 12 percent of Saudi Arabia’s overall exports. (Trade Arabia)

 

Asia

 

India: Government Hikes Import Tariff Value on Gold

The government has increased the import tariff value on gold from $396 to $401 per 10 grams but kept the tariff for silver unchanged at $575 per kg, following global price trends. The import tariff value is the base price at which customs duty is determined to prevent under-invoicing. It is revised on a fortnightly basis taking into account global prices. (NDTV)

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